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Protolabs
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Protolabs is a company that provides rapid manufacturing of low-volume 3D printed, CNC-machined, sheet metal, and injection-molded custom parts for prototyping and short-run production.[1][2][3][4][5][6] Markets like medical devices, electronics, appliances, automotive and consumer products use these parts.[5][6][7] Protolabs' headquarters and manufacturing facilities are located in Maple Plain, Minnesota.[1][3][8][9] The company also has manufacturing facilities in England and Germany.[1][3]
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History
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Protomold
In 1999, Larry Lukis founded the Protomold Company, Inc., that specialized in the quick-turn manufacture of custom plastic injection molded parts.[2][5] Protomold was recognized for its small batch molded parts and rush orders.[10] He previously ran ColorSpan, an original equipment manufacturer that produces printers and desktop publishing systems.[2] He was the chief technology officer of Protomold.[2] Later, in 2001, Brad Cleveland joined Protomold as CEO and president.[1][2][9][11]
In 2005, Protomold opened up its first UK plant in Telford, England.[12] Two years later, Protomold introduced the Firstcut quick-turn CNC machining service.[13]
Protolabs
In 2009, the company combined its Protomold and Firstcut services under its corporate name, Proto Labs Inc., known colloquially and in official messaging as Protolabs.[3]
In 2009, Protolabs opened a location in Japan to serve Japanese design engineers.[3] In the same year, Firstcut, a service from Protolabs, made available CNC-machined prototype parts made of aluminum, as well as ABS, nylon, and PEEK.[14]
In February 2012, Protolabs completed its initial public offering of common stock.[15][16]
In 2013, Protolabs reached $150 million in revenue.[17] In 2014, Protolabs acquired the North Carolina-based 3-D printing company, FineLine Prototyping Inc. In fall 2016, Protolabs' 3D printing services moved to a new 77,000 sq. ft. facility in Cary, North Carolina. The company also opened a plant in Plymouth, Minnesota.[18][19][20][21]
In February 2014, Vicki Holt was named CEO. She was hired to help Protolabs become a billion dollar manufacturing company.[10]
In November 2017, Protolabs acquired RAPID Manufacturing in Nashua, New Hampshire for an aggregate purchase price of $120 million to expand into sheet metal fabrication capabilities.[22]
COVID-19 Pandemic
During the 2019–2020 coronavirus pandemic, Protolabs began producing face shields, plastic clips, and components for coronavirus test kits for use in Minnesota hospitals.[23] The company also collaborated with the University of Minnesota to produce parts for a low-cost ventilator.[23]
2021
In January 2021, Protolabs announced an agreement to acquire Amsterdam-based manufacturing platform 3D Hubs for $280 million in cash and stock plus incentives.[24]
In March 2021, Holt retired and was succeeded as CEO by VP and GM of Americas, Robert Bodor, according to a company announcement.[25]
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Cool Idea! Program
In 2011, Protolabs launched the Cool Idea! Award program. The program awards a total of up to $250,000 each year in services to entrepreneurs with innovative product ideas in the United States and Europe.[26][27][28]
Awards
- In 2004, the Minneapolis/St Paul Business Journal named Protomold to the top of its “Growth 50” list.[29]
- In 2010 and 2013, Protolabs was awarded the Queen's Awards for Enterprise.[30]
- In June 2012, Larry Lukis and Brad Cleveland won the Ernst & Young Entrepreneur of the Year Award for their work with Protolabs.[31][32]
- In 2013 and 2014, Protolabs was recognized by Forbes in the top 5 of America's Best Small Companies.[33]
- In 2015, Protolabs was recognized as one of the top-ranked rapid prototyping vendors in the United States by their customers.[34]
- In 2016, Workplace Dynamics recognized Protolabs as a top-ranked workplace in Minnesota [35]
- In 2016, the Minnesota High Tech Association awarded Protolabs (alongside Recombinetics, Sentera, and 12 other companies) with a Tekne award for its work in advanced manufacturing.[36]
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